You Get A Divorce, They Buy Your House

PHILADELPHIA (CBS) – It is a well-known fact that New Yorkers in search of the hard to find perfect apartment often cruise the obituary notices. Recently however, more local buyers looking for a deal on their next home are leafing through the legal notices for couples divorcing.

One local expert says this is nothing new but you need to find out if there is a property settlement agreement in place before you place a bid.

“Because it is so tough to get a house nowadays, with all of the short sales and foreclosures, people are getting very creative in how they search for homes,” said Arlene Shaw, of Keller Williams Horsham and Plymouth Rock Search and Abstract.

However, Shaw says this route can be fraught with peril.

“You don’t know from the get go whether you are going to have an easy or difficult time. Think of it like an onion,” Shaw said. “You start with the first layer and each layer sometimes come off very quickly and easily. Sometimes they don’t.”

That is why Shaw says it is crucial you involve a realtor, real estate lawyer or a title company to make sure this property really is cleared to be sold or whether you are about to enmesh yourself in someone’s nightmare divorce.

Reported by Michelle Durham, KYW Newsradio

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  • Elle Chaucer

    Divorces are public information because those who choose to make their union official and legally binding, a.k.a. marriage, made it public. Just as a marriage is public information, so is divorce.

    Also, to assume that every divorce is tragic is a complete misnomer. Some divorces are quite amicable and for the best.

  • jojo

    Why are divorces public information? It’s a very personal matter. I guess for polygamers or people who commit fraud by saying they are not married?!

  • Anonymous

    I’m in! Where can I find these listings? Bet you can get a great deal on these houses!

  • Dee

    This is why I hate human beings. Vultures in an ever-growing competitive world. I would hate to live in a house where such utter sadness had taken place.

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